Money and movies, using films as a way to teach economics principles courses

Many economists suggest that the teaching of undergraduate economics can be enhanced by the use of literature, drama, poetry, art, music, graphic novels, pop culture and film. 

Using film clips in economics courses offers compelling evidence of how many economic concepts are actually present in people’s lives, and have been for a long time.  These concepts do not merely exist in dry discussions in textbooks.  Rather, the ideas these concepts contain are so relevant to people’s lives that screenwriters and novelists incorporate them into the stories they tell--most likely without realizing that they do so--because such ideas are an inextricable part of creating and presenting fully realized, interesting, relevant characters.  For example, while Holly and Paul’s story (Breakfast at Tiffany’s) is a romance, an adventure and a snapshot of life in New York at a certain time, it is also a portrayal of very relatable American lives, not limited to a specific time, location or circumstance. 

 As economics is an integral part of the “ordinary business of life” (Alfred Marshall), it also makes sense to turn the economic lens on one of the biggest cultural sensations of the last 18 years, the Harry Potter series by J.K. Rowling.  Clearly these books and films resonate with all types of people from all areas of the world and from all walks of life, relating to their most basic ideals and belief systems.   Even though the story takes place in a magical universe, students find the Potterian economy and all that it entails familiar and somewhat similar to their own economic life experiences. 

Students also relate to Tess McGill (Working Girl) because some of Tess’s pursuits are based on the attainment of those “material requisites of well-being” (Alfred Marshall), including education, if not solely for the attainment of more and nicer “things” than for the increase in “class” and “status” that they can afford her.

 These three particular films, along with several others, grapple with many issues that are important to students: “What are my dreams?  How can I achieve them? What roles do material and human resources play in these dreams and the ways of achieving them?”  By seeing clips from these and other films which illustrate and illuminate economic concepts such as opportunity cost, scarcity, trade, cost/benefit analysis, unintended consequences, entrepreneurship, and discrimination, students are more able to fully understand why these concepts are important and present in all aspects of their lives.